Late payments are not equal; a 90 day or 120 day late pay will cause a large amount of damage and is seen as a very negative mark by lenders. However a 30 day or 60 day late payment will not do much damage.

You can remove a 30 and 60 day late pay from your report by contacting the lender and asking them to erase it. Frequently they will do this in order to keep you as a customer and in their good graces.

We suggest a phone call and sending them a written letter with a brief explanation as to what happened. Additionally it will go a long way if you are polite and respectful during your communications.

A 90 and 120 day late pay is much more difficult to remove. However if your account is still open then you should contact the lender, and ask for removal of the mark.

Make sure your account is up to date before you ask them to remove the mark. Lenders will often make this decision based upon your payment history.

If the lender is not willing to remove the mark we suggest that you dispute it with the bureaus. You can do this be writing a dispute letter and sending it to each bureau or you can hire a service to do this for you.

This item will be on your report for a maximum of seven years. Additionally your account will be charged off after 180 days of delinquency.

The lender can remove a late pay from your report because they report regularly to the bureaus. All they have to do is not report the late payment the next time they report to the bureaus, typically monthly.

If your account is not in good standing, it will be very difficult to convince the lender to remove the mark from your report. Also there is a lot of information that says a negative item must stay on your report for seven years.

This is not true; any item can be removed at any point in time, the maximum amount of time an item can remain on your report is seven years. There are a few exceptions such as a bankruptcy. The Fair Credit Reporting Act clearly says that the maximum amount of time is seven years. There is no minimum amount of time an item must stay on your report and can thus be removed at any time.

In sum we suggest contacting the lender to remove this item. If that can not be done then you should dispute it directly with the bureaus, through a dispute letter.

'http%3A%2F%2Fnettips.net%2Fremove-late-payments%2F', 'Remove+Late+Payments'); return false;" title="E-mail this, post to del.icio.us, etc." id="akst_link_1041" class="akst_share_link" rel="nofollow">Funer Guvf